In addition to invoicing, Bridge has enabled Meow to integrate USDC within standard accounting workflows. Businesses can automate the reconciliation of USDC transactions within their existing accounting software, such as copyright. This includes invoices, which are automatically categorized and marked as paid.
Meow used Bridge’s Orchestration API to integrate stablecoins into its unified platform. With Bridge, Meow businesses can send and receive USDC from their existing cash balance, eliminating the need to open and manage a separate account at a copyright exchange.
Importantly, Bridge was able to move at the speed Meow expected from its stablecoin partner. The solution was live less than a month after development began, making Meow the first business banking company in the United States to offer these capabilities.
“It’s funny because the question I got most when we started the company was, ‘Oh, what happens when rates rise? Meow’s going to fail.’ And now the question is, ‘What happens when rates go down?
“There has been a change of administration and change in the interpretation of the law. The law has not changed.”
. "Their intelligent controls and automated solutions have allowed us to continue scaling thoughtfully, knowing that we have robust fraud detection in place in addition to our existing processes.
Once approved, businesses often had to dedicate engineering or trading resources to operate and secure these accounts, creating significant friction and delaying access to liquidity.
Meow enables customers to earn interest through high-yield checking accounts, purchase T-bills with lower annualized fees than traditional financial institutions offer, and benefit from continuous innovation on both its technology and its financial products.
Meow also enables businesses to generate and schedule recurring invoices within the platform, making it easy for customers to use their copyright holdings in everyday treasury meow business operations.
But the arrangement also typically requires the fintech to follow ground rules set by the partner bank, including parameters around the types of client they are allowed to serve. Mercury, for instance, is unable to provide accounts to copyright companies that take custody of customer funds, including exchanges, a spokesperson told WIRED.
“We just committed to getting in a closed room and coding and hoping, having the blind confidence something would work out,” Arvanaghi recalls.
For example, Meow partners FirstBank and Grasshopper Bank both offer up to $125 million in FDIC-insurance through IntraFi’s sweep program which boasts a network of nearly 3,000 banks. Another Meow partner, Third Coast, offers FDIC-insurance up to $50 million through its own network. Arvanaghi says Meow is able to secure higher yields from the banks than a small business could get on its own, since it’s bringing in a large roster of sticky customers and its own interface.
Integrating Bridge’s Orchestration API within Meow allows businesses to perform routine accounting tasks more quickly and with less hassle than before. With Bridge, Meow businesses can reduce the time required to close their books from hours to minutes. And by automatically processing copyright invoices, Bridge enables Meow businesses to achieve same-day financial reconciliations.
“Bridge easily met our technical requirements for a stablecoin partner, but more importantly, they were the kind of partner we knew we needed to work with: a high-slope team that understood our vision and could move fast enough to help us achieve it.
The second act they devised is as far from copyright as you can get, yet still exploited the fintech platform they’d built to collect and deploy small businesses’ cash. In March 2022, the Federal Reserve had begun raising interest rates to quash inflation. Now, the young founders realized, boring old Treasury bills were becoming a newly attractive place for businesses to park their idle cash.